The following is the income statement for Nikov and Co. for the year ended 31 December 2021,
Question:
The following is the income statement for Nikov and Co. for the year ended 31 December 2021, along with information relating to the preceding year.
Required:
Analyse the performance of the business for the year to 31 December 2021 in so far as the information allows.
Transcribed Image Text:
Income statement for the year ended 31 December 2021 2020 000 000 Sales revenue 420.2 382.5 Cost of sales (126.1) (114.8) Gross profit 294.1 267.7 Salaries and wages (92.6) (86.4) Selling and distribution costs (98.9) (75.4) Rent and rates (22.0) (22.0) Irrecoverable debts written off (19.7) (4.0) Telephone and postage (4.8) (4.4) Insurance (2.9) (2.8) Motor vehicle expenses (10.3) (8.6) Depreciation-delivery van (3.1) (3.3) - fixtures and fittings (4.3) (4.5) Operating profit 35.5 56.3 Loan interest (4.6) (5.4) Profit for the year 30.9 50.9
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Related Book For
Financial Accounting For Decision Makers
ISBN: 9781292409184
10th Edition
Authors: Peter Atrill, Eddie McLaney
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